New bill bans U.S. officials from working with certain China-based blockchain firms over security concerns
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U.S. lawmakers introduced a bill barring government officials from working with China-based blockchain firms over security concerns.
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The bill blocks government officials from transacting with Tether's USDT stablecoin and its parent company iFinex.
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The bill bans government officials from using networks operated by The Spartan Network, The Conflux Network, and Red Date Technology.
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The bill aims to prevent China and other adversaries from developing blockchain technologies that could threaten U.S. security.
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The bill comes after bans on government use of TikTok over data privacy concerns related to its Chinese ownership.